Survey Finds Men Save Nearly Twice as Much as Women in the UK
A new survey from HSBC UK explores how people in the UK are managing their finances, shedding light on a variety of spending priorities, saving habits, and barriers to saving and investing. The survey, which gathered responses from 2,001 UK adults, paints a comprehensive picture of the nation’s financial confidence and behaviours, ultimately revealing that Brits are prioritising budgeting in 2025. However, one in three report they are still struggling to save regularly.
Brits’ spending: essentials or luxuries?
Outside of essential spending (bills, rent/mortgage, groceries), Brits spend the most on clothing, shoes, and accessories (46%), followed by dining out (41%), takeaways (34%), and travel (34%).
Interestingly, spending priorities vary by relationship status. Married couples splurge most on dining out, while singles allocate more towards clothing and accessories.
“Dining out and entertainment remain popular areas of non-essential spending, but it’s interesting to see that 27% of Brits now believe most of their spending is negotiable,” says Lloyd Robson, HSBC UK’s Head of Savings.
“This highlights a shift in consumer attitudes, with more people rethinking their budgets and making considered choices, prioritising positive saving habits over impulse buys.”
Demographic gaps in financial confidence
The survey shows a confidence gap remains between men and women when it comes to managing their finances. While three quarters (75%) of men feel confident handling their spending, this is slightly lower amongst women, with 69% feeling the same. This gap is most significant when it comes to investing: 45% of men are confident in their ability to invest, compared to just 26% of women.
Younger people, aged 18-24, report the lowest levels of confidence about their finances, with only 59% saying they feel secure managing their money. In contrast, older generations, aged 55 and up, are far more confident, with 83% feeling they’ve got a good grip on their financial situation.
Savings under pressure
While more than one in three (35%) of Brits are able to save between 10-20% of their monthly income, nearly 14% haven’t saved anything at all over the past three months.
On average, men are putting away nearly twice as much as women over the same period – £1,055 in three months compared to £581.
There are also significant regional variances in how much people are able to save. Despite higher living costs, Londoners are leading the pack, saving an average of £1,390 every three months. The South West region reports the lowest number of regular savers.
Investing habits and barriers
While 37% of Brits are investing, many are hesitant because they worry about taking risks or feel they don’t have enough knowledge. Among those who invest, stocks and shares ISAs are the most popular option, with almost half of Brits favouring this method, whilst the second most popular investment method is other stocks, or shares/funds.
Bridging the financial confidence gap
The survey underscores the need for accessible financial education tools to help people in the UK feel confident in managing their finances. To bridge this gap, there’s a call for more resources that break down complex financial topics into simple, actionable advice.
Lloyd added: “Although many are showing positive financial habits, lots of people in the UK don’t feel like they have the knowledge they need to make confident financial decisions. By providing easy-to-understand resources, guidance and saving tools, HSBC UK endeavours to help empower more people to take control of their finances and build a secure future.”
HSBC UK’s Savings Goal feature ‘Savings Goals’ is helping customers create almost 20,000 goals every month on average, with more than 100,000 goals already created since the tool launched last year. More than one in ten goals set has already been achieved by HSBC UK customers.
On top of this, HSBC UK also offers Investment Goals, which helps customers make a plan for achieving their long-term financial goals and set aside money each month to invest.